- Type of finance
- Business need
Buying a business
Over £1 million
“We will continue to be known for our strengths in on-premise solutions, however, the rollout of 5G and superfast fibre broadband presents significant opportunities for us to broaden our appeal. Onecom’s capabilities in mobile services will enable us to capitalise on those opportunities swiftly and support our customers in more ways than ever before.”
In 2017, managing director Kelly Bolderson of Glamorgan Telecom Group, together with members of the senior management team, bought out founding director Neal Pughe’s stake to bring the company under the full control of the current board.
The Development Bank of Wales backed the management team and took a 15 percent equity stake in the group at the time of the MBO. Since then, we have continued to support their growth strategy as they have grown to become the leading provider of telecommunications and connectivity solutions across Wales and the South West.
In 2020, Onecom, the UK’s largest independent business telecommunications provider, acquired the Glamorgan Telecom Group as part of an ambitious strategy to significantly expand the business over the next three years. This is the first exit from the Wales Management Succession Fund. The acquisition will help both organisations take advantage of a rising demand for their services, an extended geographical reach and new cross-selling opportunities.
To find out more, read the press release here.